Unison Asset Management LLC Makes New Investment in On Holding AG $ONON

Unison Asset Management LLC acquired a new position in shares of On Holding AG (NYSE:ONON) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 15,528 shares of the company’s stock, valued at approximately $658,000. ON makes up 0.3% of Unison Asset Management LLC’s holdings, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in ONON. Washington Trust Advisors Inc. purchased a new stake in ON in the 2nd quarter worth about $29,000. GAMMA Investing LLC raised its holdings in shares of ON by 5,888.9% in the third quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock worth $46,000 after buying an additional 1,060 shares during the period. Ramirez Asset Management Inc. lifted its stake in shares of ON by 20.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock worth $62,000 after acquiring an additional 200 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in ON in the second quarter worth $83,000. Finally, CWM LLC boosted its stake in shares of ON by 119.8% during the third quarter. CWM LLC now owns 2,789 shares of the company’s stock valued at $118,000 after purchasing an additional 1,520 shares during the period. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Upgrades and Downgrades

ONON has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a report on Thursday, January 22nd. Truist Financial lowered their price target on ON from $69.00 to $60.00 and set a “buy” rating for the company in a report on Monday, November 10th. Evercore ISI reduced their price objective on ON from $68.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Guggenheim upgraded ON to a “strong-buy” rating in a report on Wednesday, December 10th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $65.00 price target on shares of ON in a research report on Wednesday, January 28th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, ON currently has an average rating of “Moderate Buy” and a consensus price target of $59.86.

ON Price Performance

NYSE:ONON opened at $45.92 on Tuesday. The company has a 50 day moving average price of $46.73 and a 200-day moving average price of $44.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. On Holding AG has a 1-year low of $34.38 and a 1-year high of $61.29. The firm has a market cap of $28.83 billion, a price-to-earnings ratio of 59.63, a price-to-earnings-growth ratio of 1.36 and a beta of 2.15.

ON Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.